Consumer Prices Rose as the Housing Market Fell in May

Stocks close the day higher for the third straight day. The housing market fell more than expected in May. Housing starts fell 6.5% month over month in May, which was worse that the expected fall of 3.9% month over month. Consumer prices also rose more that expected last month. The consumer price index jumped up 0.4% for the sharpest increase in 15 months. This jump is partially due to the continual acceleration of the inflation rate. Amazon (AMZN) is expected to unveil it's "3-D" smartphone tomorrow and it will be an AT&T (T) exclusive device.

This exclusive partnership may initially limit sales, but it is very similar to when Apple's (AAPL) iPhone was an AT&T exclusive device.